A reverse mortgage is a financial product that allows homeowners, typically aged 60 or older, to convert part of their home equity into cash while retaining ownership of their property. This option can be particularly appealing to seniors who are “house rich” but “cash poor,”...
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As older adults navigate financial planning, one of the most significant assets they own is their home. In situations where additional funds are needed—especially to cover long-term care costs—home equity can be a valuable financial resource. However, accessing home equity requires careful considera...
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By Brian Figeroux, Esq. Trusts have long been regarded as essential tools for wealth management and protection. In New York State (NYS), where state laws impose high tax rates and extensive estate and inheritance planning requirements, trusts offer unique opportunities to safeguard assets, minimize ...
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Estate planning is an essential process that ensures that your assets are distributed according to your wishes after death. In today’s fast-paced and ever-evolving world, the importance of estate planning has never been more critical. Whether you have substantial assets or modest holdings, pro...
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By Brian Figeroux, Esq. | Editorial credit: Vitalii Vodolazskyi / shutterstock.com Estate planning is the process of arranging how your assets, wealth, and personal wishes will be managed, transferred, or distributed after your death. In New York State (NYS), as in many other jurisdictions, proper ...
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By Brian Figeroux, Esq. | Editorial Credit: Southworks/shutterstock.com Key Points of this Analysis Succession Planning: Users emphasize the importance of having a clear succession plan to ensure the business continues smoothly after the owner’s death. Valuation and Division: Estate planning profes...
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By Brian Figeroux, Esq. | Editorial Credit: Rawpixel.com /shutterstock.com Key Points of this Analysis Donor-Advised Funds: Donor-advised funds as a flexible way to manage charitable giving during their lifetime and beyond. Charitable Trusts: How charitable remainder trusts and charitable lead tru...
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By Brian Figeroux, Esq. | Editorial Credit: Mavo/shutterstock.com Trusts are one of the most powerful and versatile tools in estate planning, offering significant advantages in terms of privacy, wealth management, and tax reduction. As the complexities of modern financial landscapes grow, trusts hav...
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By Brian Figeroux, Esq. | Editorial Credit: Ismayil Orujov/ shutterstock.com Key Points of this Analysis Inclusion in Wills and Trusts: Importance of explicitly including digital assets in wills and trusts to ensure they are not overlooked during probate. Access and Security: How beneficiaries c...
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